Research On The Impact Of University R&D Expenditure On Local Economic Growth

The R&D activities in universities are a powerful guarantee for the realization of the national innovation strategy.The structure of R&D expenditure in China's universities is still not balanced.In the R&D investment of Chinese universities,the application research occupies the main position in the funds of R&D,which is superior to the fundamental research and the experimental development.At present,scholars only conclude that R&D expenditure in universities can promote economic growth.However,there are few studies on the impact of R&D expenditures on economic growth from the internal expenditure structure,resulting in the difference of intensity of three types of R&D expenditures are still in an unknown fuzzy state.This is not conducive to the positive role of university scientific research activities on economic growth.Therefore,from the perspective of internal expenditure structure,exploring the impact of university R&D expenditure on economic growth has important theoretical significance and application value for optimizing university R&D resources allocation and improving the efficiency of funds use.In order to investigate the effect of R&D funds on China's economic growth,This article selects the data of R&D expenditures of 30 provincial universities from 2000 to 2016 as samples,starts with the influence of the internal expenditure structure of R&D funds on the regional economic growth,and explores the impact of the fundamental research funds,applied research funds and experimental development funds on economic growth in the current period,and investigates the long-term effects of three types of universities R&D expenditures on economic growth through the lag effect.Based on Granger causality test,we explored the causal relationship between three types of universities R&D expenditure and economic growth.The empirical results show:(1)Fundamental research,application research and experimental development expenditures all contribute to economic growth,but in terms of impact intensity,fundamental research promotes economic growth to a greater extent.(2)There is a time-lag effect on the three kinds of R&D expenditure,among them,the experimental development expenditures have the longest lag period.(3)Fundamental research,applied research,and experimental development expenditures are the Granger reason for promoting economic growth.Therefore,it is determined that the internal expenditure structure of R&D funds in Chinese universities still needs to be adjusted and improved in depth,and the investment of fundamental research should be increased so as to achieve the optimal allocation of R&D resources.The article is divided into five parts.The first part expounds the research background and significance,research methods and ideas,innovation points and content arrangement.The second part reviews the basic theories such as resource allocation and sorts out relevant literature at home and abroad.The third part is the research design of the thesis,which mainly includes the analysis of the R&D investment status of universities,the paper hypothesis,the design research variables and the construction of the empirical model.The fourth part is the empirical results and analysis,covering the sample selection instructions,the main empirical conclusions and the extended analysis,and proposes policy recommendations based on the empirical conclusions.The fifth part is the conclusion and research outlook.